American Sands Energy Corp. Receives Utah DEQ Permit
SALT LAKE CITY, April 28, 2015 /PRNewswire/ -- American Sands Energy Corp. (OTCBB: AMSE, "AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce the publication for comment of its Ground Water Discharge Permit and its associated Construction Permit.
"The publication of these permits by The Utah Department of Environmental Quality's Division of Water Quality demonstrates the lack of impact that American Sands will have on ground water in the Bruin Point area," stated William Gibbs, Company CEO. AMSE's groundbreaking, water-free extraction process is able to extract bitumen from the sands without using or discharging any water. We believe our Sunnyside Project will become a leading example of clean bitumen extraction for unconventional oil recovery projects."
"Obtaining the approval of the DEQ is a major achievement for American Sands," according to COO Robin Gereluk. "Once we are fully permitted, AMSE hopes to be producing bitumen within 18 months at the rate of up to 9,000 barrels per day. With a cost basis of under $40 per barrel, and our limited environmental impact, we anticipate being a leader in the nascent oil-wet oil sands extraction industry."
The Company is also currently in the process of working on its Large Mine Permit. AMSE believes it has met all the requirements for this permit and hopes to have this permit published for public comment in the near future.
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 private acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Forward Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of AMSE's securities, and there shall not be any sale of AMSE's securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction, or the availability of an exemption therefrom.
SOURCE American Sands Energy Corp.
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